Toronto Dominion Bank Has $22.28 Million Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Toronto Dominion Bank lowered its stake in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 29.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,192 shares of the financial services provider’s stock after selling 33,170 shares during the quarter. Toronto Dominion Bank’s holdings in Arthur J. Gallagher & Co. were worth $22,282,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in Arthur J. Gallagher & Co. during the second quarter worth $26,000. Mark Sheptoff Financial Planning LLC bought a new stake in Arthur J. Gallagher & Co. during the second quarter worth $26,000. Rakuten Securities Inc. lifted its stake in Arthur J. Gallagher & Co. by 580.0% during the third quarter. Rakuten Securities Inc. now owns 102 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 87 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 543.8% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 103 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 87 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. lifted its stake in shares of Arthur J. Gallagher & Co. by 89.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 110 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Activity at Arthur J. Gallagher & Co.

In related news, VP Christopher E. Mead sold 2,800 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $287.00, for a total value of $803,600.00. Following the completion of the sale, the vice president now directly owns 14,674 shares of the company’s stock, valued at $4,211,438. The trade was a 16.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Douglas K. Howell sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $284.68, for a total value of $1,992,760.00. Following the completion of the sale, the chief financial officer now directly owns 75,963 shares of the company’s stock, valued at $21,625,146.84. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,800 shares of company stock valued at $4,789,260 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

AJG has been the subject of a number of research reports. Piper Sandler increased their price target on Arthur J. Gallagher & Co. from $254.00 to $293.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. The Goldman Sachs Group cut Arthur J. Gallagher & Co. from a “buy” rating to a “neutral” rating and set a $313.00 price target for the company. in a research note on Monday, November 25th. Truist Financial increased their price target on Arthur J. Gallagher & Co. from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, September 20th. BMO Capital Markets raised their target price on Arthur J. Gallagher & Co. from $312.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company raised their target price on Arthur J. Gallagher & Co. from $315.00 to $344.00 and gave the stock an “overweight” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $296.57.

Arthur J. Gallagher & Co. Stock Performance

AJG stock opened at $281.26 on Friday. The stock has a 50-day moving average price of $293.52 and a 200-day moving average price of $281.59. Arthur J. Gallagher & Co. has a 1-year low of $218.63 and a 1-year high of $316.72. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The firm has a market cap of $61.71 billion, a PE ratio of 54.12, a price-to-earnings-growth ratio of 2.53 and a beta of 0.74.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $2.26 earnings per share for the quarter, hitting the consensus estimate of $2.26. Arthur J. Gallagher & Co. had a return on equity of 19.12% and a net margin of 10.40%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the company posted $2.00 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, equities research analysts expect that Arthur J. Gallagher & Co. will post 10.12 earnings per share for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Friday, December 6th. Arthur J. Gallagher & Co.’s payout ratio is 45.71%.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.